- Tesla released total vehicle deliveries for 2019 that topped its own guidance on Friday.
- Shares of the company jumped about 2% in early trading following the release.
- Deliveries grew 50% year-over-year, Tesla said, as it continues to increase its production speed.
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Tesla delivered 112,000 vehicles in the fourth quarter, helping the electric car company top its own guidance for the full year, in which it delivered 367,500 vehicles, the company said Friday.
The number is a 50% increase over the previous year.
Shares of Tesla jumped as much as 2% in early trading Friday morning following the news.
Final numbers could vary by 0.5% or more, the company said, as paperwork is processed and finalized.
"We continue to focus on expanding production in both the US as well as our newly launched facility in Shanghai," the company said in a press release.
"Despite breaking ground at Gigafactory Shanghai less than 12 months ago, we have already produced just under 1,000 customer salable cars and have begun deliveries. We have also demonstrated production run-rate capability of greater than 3,000 units per week, excluding local battery pack production which began in late December."
The numbers are another sign of a turnaround at Tesla, which recently returned to profitability after a spate of negative earnings reports.
"While we are still taking a wait and see approach to see how sustainable this level of demand/profitability is going forward, based on recent data points out of Europe/China we continue to move one step closer to believing this Tesla turnaround story is real," Daniel Ives, an analyst at Wedbush Securities, said in a note to clients ahead of the deliveries report.
This story is developing. Check back for updates.
